Raytheon shares are trading lower. The company in its earnings report disclosed that Pratt & Whitney has determined that a rare condition in powder metal used to manufacture certain engine parts will require accelerated fleet inspection.
Portfolio Pulse from Bill Haddad
Raytheon's shares are trading lower after the company disclosed in its earnings report that Pratt & Whitney has identified a rare condition in powder metal used to manufacture certain engine parts, necessitating accelerated fleet inspection.
July 25, 2023 | 1:46 pm
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NEGATIVE IMPACT
Raytheon's stock price is expected to be negatively impacted in the short term due to the unexpected issue in Pratt & Whitney's manufacturing process.
The news directly pertains to Raytheon as Pratt & Whitney is a subsidiary of the company. The unexpected issue in the manufacturing process could lead to additional costs and delays, which are likely to negatively impact the company's financial performance and, consequently, its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100